[2017-12-12] SEC Halts Munchee ICO for Securities Violations

[Rick Nolan]

The SEC announced yesterday that Munchee Inc. had provided refunds to investors after officials made contact and drew issue with its token sale, which the agency said constituted the offer and sale of unregistered securities.

Munchee Platform is a decentralized blockchain food review social platform. In October and November, Munchee carried out the offering of MUN tokens to raise about $15 million.

Read more: https://hype.codes/sec-halts-munchee-ico-securities-violations

Do you agree with the SEC decision?

[Argoo]

If the platform is Munched. Inc did indeed violate the requirements and did not register before holding its ICO due to the fact that the produced tons are recognized as securities, then imposing certain sanctions on it is a logical and lawful decision. This should be done in the future, because the activity on the initial issue of coins (ICO) has recently been associated with greater risks of fraud. If such activities are registered and verified, the credibility of the ICO will return and will increase.